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TMI Blog2006 (11) TMI 208X X X X Extracts X X X X X X X X Extracts X X X X ..... der Section 35(G) of the Central Excise Act, 1944 against the order dated 24-2-2006 passed by Customs, Excise & Service Tax Appellate Tribunal, New Delhi proposing following substantial question of law :- "Whether the penalty under Section 11AC of Central Excise Act, 1944 is mandatory and equal to the duty demanded or the authority has discretion to impose lessor (sic) penalty?" 2. Facts noticed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o imposed against which the appeal of the appellant was dismissed by the first Appellate Authority. The Tribunal upheld the imposition of duty following the judgment in case of the assessee i.e. Indian Oil Corporation v. CCE, 2002 (148) E.L.T. 1021. The Tribunal, however, reduced the penalty after recording a finding that in the facts and circumstances of the case maximum penalty was not called fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of duty but in the present case, the Tribunal has not recorded such a finding. 5. The assessee is a public sector undertaking and in view of the judgments of Hon'ble Supreme Court in Oil and Natural Gas Commission v. Collector of Central Excise, 1992 Supp.(2) SCC 432 (ONGC-I), Oil and Natural Gas Commission v.Collector of Central Exicse - 1992 (61) E.L.T. 3 (S.C.) = 1995 Supp.(4) SCC 541 (ONGC-II ..... X X X X Extracts X X X X X X X X Extracts X X X X
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